Average homeowner in Bucks made almost £4,000 in May

House prices increase by 0.9 per cent in a month

Wednesday, 14th July 2021, 12:35 pm
Updated Wednesday, 14th July 2021, 12:36 pm

House prices increased slightly, by 0.9%, in Buckinghamshire in May, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 8% annual growth.

The average Buckinghamshire house price in May was £429,984, Land Registry figures show – a 0.9% increase on April.

House prices in Bucks continue to rise
House prices in Bucks continue to rise

That means the average homeowner made almost £4,000 in a month.

The picture was similar to that across the South East, where prices increased 1.4%.

Over the last year, the average sale price of property in Buckinghamshire rose by £32,000 – putting the area 35th among the South East’s 70 local authorities for annual growth.

The best annual growth in the region was in Oxford, where property prices increased on average by 16.1%, to £456,000. At the other end of the scale, properties in Chichester lost 2.7% of their value, giving an average price of £396,000.

Winners and Losers

Owners of flats saw the biggest improvement in property prices in Buckinghamshire in May – they increased 1.1%, to £232,626 on average. Over the last year, prices rose by 5.7%.

Among other types of property:

Detached: up 0.9% monthly; up 8.2% annually; £770,506 average

Semi-detached: up 0.8% monthly; up 8.4% annually; £421,497 average

Terraced: up 0.8% monthly; up 9% annually; £336,175 average

First steps on the property ladder

First-time buyers in Buckinghamshire spent an average of £320,000 on their property – £23,000 more than a year ago, and £35,000 more than in May 2016.

By comparison, former owner-occupiers paid £509,000 on average in May – 58.8% more than first-time buyers.

How do property prices in Buckinghamshire compare?

Buyers paid 22.8% more than the average price in the South East (£350,000) in May for a property in Buckinghamshire. Across the South East, property prices are high compared to those across the UK, where the average cost £255,000.

The most expensive properties in the South East were in Elmbridge – £646,000 on average, and 1.5 times as much as in Buckinghamshire. Elmbridge properties cost 2.9 times as much as homes in Southampton (£221,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea, where the average May sale price of £1.2 million could buy 12 properties in Burnley (average £100,000).

Factfile

Average property price in May

Buckinghamshire: £429,984

The South East: £350,016

UK: £254,624

Annual growth to May

Buckinghamshire: +8%

The South East: +9.1%

UK: +10%

Best and worst annual growth in the South East

Oxford: +16.1%

Chichester: -2.7%